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Non-Homestead Millage Renewal Video

Added Mar 27, 2024 •

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good afternoon CK parents and community members together we'd like to take a few minutes to inform you about are not Homestead Property Tax renewal which will take place this May 7th so Chris when we say primary residence please such as vacation home rental properties and other commercial personal property so Mill is equal to $1 on everyone thousand dollars of taxable value of for example the cost of six meals on a property that's valued at $200,000 we just take that 200 and remote fly it by 6 we come to $1,200 per year right so is this the new textures this a tax increase this is really what people want to know the answer to both of those questions is no okay so this is a renewal at the current rate and I can't stress this enough this is only a business investment properties that are paying 18 Mills currently anyways okay and once again Craig primary residences will continue to be exempt from taxes that they have in the past that's correct what happens if this millage does everybody goes out and vote Yes and there's absolutely no to homeowners in tkschools pay the same property taxes regardless and for those owners or businesses rental properties in vacation homes for foundation allowance if this so we'll get the full funding as prescribed by law all right so on the other hand what happens if this millage does not pass if it does not pass once again they don't see a text break they don't see a tax increase there's no change for our homeowners here in the district in the school district would stand to lose about 3.8 million dollars per year in general fund operating hours really tough on the district to maintain all the programming that we currently have absolutely the district can't afford to lose this chart so we would be able to football Foundation or the full not Homestead millage up through 2025 and then in 2026 and 2027 and then in 2028 we lose that 3.84 million dollars every what you put us in deficit by 2028 we really have to make some significant changes in the program Homestead millage in order to capture that entire that full Foundation allowance so this is really uniform across businesses and second properties all across the state not just so what's going to be on the ballot number 3 in your polling place on May 7th this is what you're going to see in front of you and there's quite a bit of 18.03 mil over a period of ten years from 2025 to 2034 is me and you can see here there's a dollar value that's really what we were talking about that 3.8 that's what the district recognizes every year from this talking about Levi using part of this whole thing so by State Statute we can't be more than eighteen Mill however we asked for more than 18 because of rides at a greater Pace than the rate of 9 homestead tax levy will be heavily reduced okay and so in that scenario if we don't get this headlight bumper actually receive less than we can buy this type of so this actually happened back in 2014 CK voters as the district has still been able to because as long as we remained above 18 nine 923 where it is and then just as an extra because over 10 years is very possible we'll get rolled back again but I can't stress enough Greg and no point that are currently paying in anyways none of this pertains you're single primary residence okay so it's only on businesses are Barbers that's really important as well so qualifies for the agricultural exemption is not affected by this millage actually never has been so if you're exempt now there's no change and our Farmers know how to make sure that they're their property is exempt it's here on your screen a lot more to it but we'll leave that one alone for now this is a tax on non-primary residence this is a local property tax on vacation homes rental properties in commercial personal this is a renewal at the current rate there's no increase over the 18 Mills and necessary to continue to thrive this has no impact zero Mills $0 on any homeowner's primary residence and we hope that if you have any questions whatsoever about this millage please reach out to or by phone